small modern living blog - what the banks want

My husband decided to build his home, “The Essential House,” after realizing a fixer-upper would cost relatively the same amount, (This was back in 2008 when the building landscape was quite different). His intention to build a compact, sustainable, and modern home was inspired through this architecture practice and values he embraced during his time studying in Switzerland.

One of the biggest obstacles in staying true to these ideals came from the financing perspective. A loft area was deemed undesirable by the bank. The bank said the 24 by 24 foot cube that formed the enclosed space of the home was too small - It would impact resale value. However, that size made it easier to build and cranes would not be needed during the process, saving time and money. The numerous sustainability features did not impact it’s appraised value, in fact, the modern design lowered the value. Despite these challenges, my husband persevered and stayed true to his design goals.

During this holiday season, I cannot help but be thankful for our 24 by 24 foot cube of a house. Despite our home being “too small and too modern,” for the banks, it is perfect for the brave section of society who proclaim less can mean more.